Correlation Between Hamilton Enhanced and RBC Quant
Can any of the company-specific risk be diversified away by investing in both Hamilton Enhanced and RBC Quant at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Hamilton Enhanced and RBC Quant into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Hamilton Enhanced Multi Sector and RBC Quant Canadian, you can compare the effects of market volatilities on Hamilton Enhanced and RBC Quant and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Hamilton Enhanced with a short position of RBC Quant. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hamilton Enhanced and RBC Quant.
Diversification Opportunities for Hamilton Enhanced and RBC Quant
0.99 | Correlation Coefficient |
No risk reduction
The 3 months correlation between Hamilton and RBC is 0.99. Overlapping area represents the amount of risk that can be diversified away by holding Hamilton Enhanced Multi Sector and RBC Quant Canadian in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on RBC Quant Canadian and Hamilton Enhanced is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Hamilton Enhanced Multi Sector are associated (or correlated) with RBC Quant. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of RBC Quant Canadian has no effect on the direction of Hamilton Enhanced i.e., Hamilton Enhanced and RBC Quant go up and down completely randomly.
Pair Corralation between Hamilton Enhanced and RBC Quant
Assuming the 90 days trading horizon Hamilton Enhanced Multi Sector is expected to generate 1.17 times more return on investment than RBC Quant. However, Hamilton Enhanced is 1.17 times more volatile than RBC Quant Canadian. It trades about 0.25 of its potential returns per unit of risk. RBC Quant Canadian is currently generating about 0.25 per unit of risk. If you would invest 1,750 in Hamilton Enhanced Multi Sector on October 23, 2025 and sell it today you would earn a total of 389.00 from holding Hamilton Enhanced Multi Sector or generate 22.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hamilton Enhanced Multi Sector vs. RBC Quant Canadian
Performance |
| Timeline |
| Hamilton Enhanced Multi |
| RBC Quant Canadian |
Hamilton Enhanced and RBC Quant Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hamilton Enhanced and RBC Quant
The main advantage of trading using opposite Hamilton Enhanced and RBC Quant positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hamilton Enhanced position performs unexpectedly, RBC Quant can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in RBC Quant will offset losses from the drop in RBC Quant's long position.| Hamilton Enhanced vs. Hamilton Enhanced Canadian | Hamilton Enhanced vs. Vanguard FTSE Developed | Hamilton Enhanced vs. CI Canada Quality | Hamilton Enhanced vs. Global X Canadian |
| RBC Quant vs. RBC Quant Dividend | RBC Quant vs. RBC Quant Dividend | RBC Quant vs. Fidelity Canadian High | RBC Quant vs. iShares MSCI Europe |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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